Fannie Mae-No Politics (FNMA)

[navycmdr]

Keefe Bruyette Upgrades Fannie Mae and Freddie Mac to Outperform

March 20, 2008 7:58 AM EDT
http://www.streetinsider.com/Upgrades/Keefe+Bruyette+Upgrades+Fannie+Mae+and+Freddie+Mac+to+Outperform+(FNM,+FRE)/3476191.html

“Keefe Bruyette & Woods upgrades Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) to Outperform, citing recent government actions that had led to increased expectations.

The firm boosts its price target on Fannie Mae and Freddie Mac to $48 and $46, respectively.

Keefe Bruyette expects both Fannie Mae and Freddie Mac to be ‘an active participant in stabilizing the mortgage markets.’ The firm raised its EPS estimates on Fannie Mae in FY08 to ($1.06) and in FY09 to $1.11, versus the Street estimates of ($0.20) and $2.31, respectively. Keefe Bruyette boosts its EPS estimates on Freddie Mac in FY08 to ($1.50) and in FY09 to $2.20. The Street is currently expecting ($1.21) and $1.79, respectively.”